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Texas Amends Constitution to Ban Key Investment Taxes

New provisions prohibit capital gains, estate, inheritance, and certain securities transaction taxes, reinforcing the state’s pro-business stance.

Summary

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Terms & Concepts
  • Capital gains tax: A tax on the profit made from selling assets like stocks, bonds, or property.
  • Estate tax: A tax levied on the total value of a deceased person's assets before distribution to heirs.
  • Securities transactions: Financial activities involving the buying or selling of investment instruments such as stocks and bonds.